🛡️ Term Life Insurance Calculator
Calculate how much term life cover your family actually needs using three methods — Human Life Value, Income Replacement and DIME — and get a realistic annual premium estimate. Switch to Advanced for the full 9-module cover, premium, affordability and claim-reality analysis.
Insurance Calculator
Quick 3-step estimate
Your Details
Annual Income
Your Age
Retirement Age
Spouse Income
Optional — reduces net income need
Dependents
Children + non-earning members
Outstanding Loans
Home + car + personal combined
Education Fund Needed
For children's higher education
Existing Life Cover
All existing policies combined
Discount Rate
Expected investment return
Coverage Recommendation
Enter your income and age to see recommendation
Index
Insurance Questions — Answered Directly
25 questions on term life, health, and car insurance. India-specific, no sales angle.
Term Life Insurance
Health Insurance
Car Insurance
Using the Calculator
What This Term Life Insurance Calculator Does
- Three methods compared — HLV, Income Replacement and DIME — with the highest recommended
- Inflation-adjusted income replacement over your earning years
- Adds outstanding loans and goals, subtracts existing cover and assets
- Annual and monthly premium estimate for the recommended sum assured
- Section 80C benefit on premiums paid (Old Tax Regime)
Term Life Insurance — Frequently Asked Questions
How much term life insurance do I need?
A common rule is 10–15× your annual income, but a needs-based figure is better: replace your income to retirement (inflation-adjusted), add outstanding loans and major goals like children's education, then subtract existing cover and liquid assets. For a 30-year-old earning ₹12L/year, that is often ₹1.5–2.5 crore.
What is Human Life Value (HLV)?
HLV is the present value of your future income net of personal expenses, over your remaining working years. It estimates the economic value your family loses if you are not around, and is one of the most accurate ways to size term cover compared with simple income multiples.
Is term insurance premium eligible for tax deduction?
Yes — premiums paid on a term life policy qualify for deduction under Section 80C (up to ₹1.5L/year) under the Old Tax Regime. The death benefit your nominee receives is exempt under Section 10(10D). These benefits are not available under the New Tax Regime.
Other Insurance Types
Each insurance type has its own calculator. The all-in-one Insurance Calculator hub lets you pick any type and switch freely, plus the full 9-module advanced analysis.